{"id":23100,"date":"2022-01-31T13:12:31","date_gmt":"2022-01-31T12:12:31","guid":{"rendered":"https:\/\/newsonlineng.com\/?p=23100"},"modified":"2022-02-01T08:41:48","modified_gmt":"2022-02-01T07:41:48","slug":"breaking-naira-gains-at-p2p-and-official-markets-see-new-exchange-rate","status":"publish","type":"post","link":"https:\/\/newsonlineng.com\/breaking-naira-gains-at-p2p-and-official-markets-see-new-exchange-rate\/","title":{"rendered":"BREAKING: Naira Gains At P2P And Official Markets, See New Exchange Rate"},"content":{"rendered":"
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NewsOnline<\/a> <\/strong>reports that the exchange rate between the naira and the US dollar<\/strong> <\/a>closed at N416\/$1 at the Investors and Exporters (I&E) window, where forex is traded officially.<\/p>\n <\/p>\n <\/p>\n Naira<\/a><\/strong> gained against the US dollar on Friday to its highest level during the week to close at N416\/$1, representing a 0.08% appreciation compared to N416.33\/$1 recorded in the previous trading session, indicating a year-to-date average rate of N416.62\/$1.<\/p>\n <\/p>\n <\/p>\n Similarly, exchange rate at the Peer-to-Peer (P2P) market appreciated significantly to its highest level in over three weeks, trading at N570\/$1 in the early hours of Monday 31st January 2022.<\/p>\n <\/p>\n Forex turnover at the official market decreased by 28.5% to $81.29 million as opposed to the $113.71 million recorded in the previous trading session. This represents the lowest turnover at the official FX market in over two weeks.<\/p>\n The exchange rate at the Investors and Exporters window closed at N416\/$1 on Friday, 28th January 2022, which represents a 0.08% appreciation compared to N416.33\/$1 recorded in the previous trading session<\/p>\n The local currency opened at\u00a0N570.00 per $1 at the parallel market<\/strong>\u00a0otherwise known as the\u00a0black market,<\/a> today, Monday, 31 January 2022<\/strong>, in Lagos Nigeria,<\/strong>\u00a0after it\u00a0closed N570.00 per $1 on Sunday, 30 January 2022<\/strong><\/a>.<\/p>\n <\/p>\n Even though the\u00a0dollar to naira opened in the parallel market<\/strong>\u00a0at\u00a0\u20a6570<\/strong>\u00a0per $1 today<\/strong>,\u00a0Newsonline\u00a0<\/strong><\/a>reports that the\u00a0Central Bank of Nigeria (CBN)\u00a0does not recognise the\u00a0parallel market<\/strong><\/a>,<\/a>\u00a0otherwise known as the\u00a0black market<\/strong>.<\/a>\u00a0The apex bank has therefore directed anyone who requires forex to approach their bank, insisting that the\u00a0I&E window<\/strong>\u00a0is the only known exchange.<\/p>\n <\/p>\n<\/div>\n Newsonline Nigeria<\/strong><\/a>\u00a0reports that at the black market, the players\u00a0buy a dollar for N565 and sell for N570 on Monday morning, January 31<\/b>,\u00a02022\u00a0<\/b>after they bought\u00a0N565 and sold for N570<\/b>\u00a0on Sunday morning, January 30<\/b><\/strong><\/a>.<\/p>\n <\/p>\n Meanwhile, Newsonline Nigeria<\/strong><\/a>\u00a0reports that the\u00a0USD<\/strong>\u00a0started this week at\u00a0\u20a6570 in Parallel Market also known as Black Market on Monday, January 31, 2022<\/strong><\/a>\u00a0in\u00a0Lagos Nigeria<\/strong>, same amount it opened at\u00a0last week Monday, January 24, 2021<\/strong><\/a>.<\/p>\n <\/p>\n Naira Gains At P2P And Official Markets FX turnover drops to two-week low See New Exchange Rate below. NewsOnline reports that the exchange rate between the naira and the US dollar closed at N416\/$1 at the Investors and Exporters (I&E) window, where forex is traded officially. Naira gained against the US […]<\/p>\n","protected":false},"author":1,"featured_media":18290,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18922,4],"tags":[21556,21557,13259,21558,13258,16346,16347,21559,20868,21560,21367,17682,16349,21209,16350,2566,21561,21210,21211,21212,21213,21214,21215,21216,18309,21638,21030,16352,20060,21031,21562,21563,17136,21208,5204,21639,20965,20968,2625,20971,20969,2629,21217,16358,16359,16361,18852,16344,16364,16365,21997,21640,2559,2560,21564,16367,20964,20967,2627,21218,20972,14272,14265,21565,2204,16372,20966,16374,21566,21641,21642,16377,16378,21643,21644,21567,21568,3320,22944,22722,22604,22605,5838,2626,21569,2628,5840,21860,21941,20970,22232,21032,21033,13260,22010],"coauthors":[],"jetpack_featured_media_url":"https:\/\/newsonlineng.com\/wp-content\/uploads\/2021\/10\/Screenshot_2399.jpg","_links":{"self":[{"href":"https:\/\/newsonlineng.com\/wp-json\/wp\/v2\/posts\/23100"}],"collection":[{"href":"https:\/\/newsonlineng.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsonlineng.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsonlineng.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsonlineng.com\/wp-json\/wp\/v2\/comments?post=23100"}],"version-history":[{"count":0,"href":"https:\/\/newsonlineng.com\/wp-json\/wp\/v2\/posts\/23100\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsonlineng.com\/wp-json\/wp\/v2\/media\/18290"}],"wp:attachment":[{"href":"https:\/\/newsonlineng.com\/wp-json\/wp\/v2\/media?parent=23100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsonlineng.com\/wp-json\/wp\/v2\/categories?post=23100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsonlineng.com\/wp-json\/wp\/v2\/tags?post=23100"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/newsonlineng.com\/wp-json\/wp\/v2\/coauthors?post=23100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}ALSO: How To Apply For UK Revisited Priority Visa (Step-By-Step Guide)<\/a><\/strong><\/h3>\n
Highlights<\/strong><\/h3>\n
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Trading at the official NAFEX window<\/strong><\/h3>\n
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Disclaimer<\/strong>:\u00a0NEWSONLINE NIGERIA<\/strong><\/a>\u00a0does not set or determine forex rates. The official NAFEX rates are obtained from the\u00a0website of the FMDQOTC<\/strong><\/a>. Parallel market rates (black market rates<\/strong>) are obtained from various sources including online media outlets. The\u00a0rates you buy or sell forex may be different from what is captured in this article<\/strong>.<\/h4>\n","protected":false},"excerpt":{"rendered":"